Seqirus announced Flucelvax Quadrivalent's Approval
In March 2022, Flucelvax quadrivalent, a cell-based influenza vaccine for those two years of age and older, was approved, according to a Seqirus announcement. Children in the age range of 2 to 18 years were now eligible for these vaccinations, thanks to Health Canada's permission.
Demand for Retail Pharmacies is Rising, Driving Market Expansion
It was observed that the seasonal flu virus prevalence was extremely low during the flu season of 2020–2021. In the United States, about 1,899 of 1,081,671 clinical samples tested positive for the influenza virus from September 2020, to May 2021. This accelerates market expansion. Opportunities for market expansion may arise from the rise in the number of antiviral medications prescribed by retail pharmacies for the treatment of seasonal influenza and from the expansion of these pharmacies in highly developing nations. Additionally, because retail pharmacies are more convenient for customers to reach, patients prefer them for drug purchases.
Challenges Related to Manufacturing of Vaccines To Limit Market Growth
Due to expensive vaccine manufacturing costs and a challenging manufacturing process brought on by the inherent diversity of viral strains, the worldwide market for seasonal influenza is being constrained. The slow egg-based production method now in use makes it challenging to create seasonal influenza vaccines. Nevertheless, during the anticipated period, the market for seasonal influenza would face challenges due to the high cost of research and development. Additionally, the time needed to make the vaccine and the high manufacturing costs linked to very high development are the main factors that challenge the growth of the global market for seasonal influenza vaccines.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the seasonal influenza market plan acquisitions to improve their brand recognition globally. For instance, in January 2022, Clinical Infectious Diseases reported that during the 2019–2020 season, when vaccine-mismatched viruses predominated, seasonal influenza immunization effectiveness against life-threatening seasonal influenza in children was 75%.
List of Key Players Profiled in the Report
- Pfizer Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- Mylan N.V. (U.S.)
- Sanofi (France)
- Boehringer Ingelheim International GmbH (Germany)
- Merck & Co., Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Bristol-Myers Squibb Company (U.S.)
- SHIONOGI & Co., Ltd (Japan)
- SINOVAC (China)
Further Report Findings
- The market in North America is expected to gain a huge portion of the global seasonal influenza market share in the coming years due to the existence of the product's primary manufacturer, strong R&D spending, and healthcare with qualified personnel.
- Due to the increase in seasonal influenza epidemics in nations like the U.S., this region is expected to dominate and hold the top market in the next years.
- In the Asia Pacific, the growth in this region is primarily driven by a rise in the construction industry, increased government awareness campaigns, and generic medicine availability.
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